Shiba Inu (SHIB) is facing resistance to breakthrough. Analysts expect that market optimism and the rise of BTC will drive bullish momentum.
After Bitcoin's price broke through the historical high of $105,000, Shiba's price has recently soared. Although the market occasionally retests the highs, the overall cryptocurrency market boom has pushed SHIB prices into multiple technical resistance zones. Analysts predict that as market enthusiasm heats up, Shiba may reach new historical highs, laying the foundation for further increases before the end of the year.
Can Shiba Inu's price reach a new historical high in December this year?
A cryptocurrency expert pointed out on Twitter that SHIB is currently in a critical price range—between $0.000027 and $0.000030. This range is seen as an important threshold for determining its future trend.
According to analysis, if SHIB can successfully break through the resistance level of $0.000030, its price may soar to previous highs, further confirming the formation of a bull market. This trend may attract more investors into the market, driving prices higher.
Experts emphasize that buyers need to break through the psychological level of $0.000030 to restore the market's upward momentum. Once this breakthrough is achieved, the market may welcome a further upward trend and lay the foundation for SHIB to return to the historical high of the 2021 bull market—$0.00008845.
Against the backdrop of positive current market sentiment, this potential breakthrough will become a significant turning point for SHIB, providing opportunities for future price increases.
BTC price has reached a historical high of $106,000, rising for seven consecutive weeks, marking the highest weekly increase since 2021. This surge in the cryptocurrency market may ignite bullish optimism, pushing SHIB prices and other top altcoins to new highs. The surge in other top meme coins, including DOGE, PEPE, and WIF, could drive SHIB prices to soar.
SHIB Price Analysis: Can Shiba Reach $0.00004 This Week?
As of December 16, SHIB's latest price is $0.00002747, slightly up 0.67% in the last 24 hours, showing moderate upward momentum. However, the price fluctuations are quite significant, with a minimum of $0.00002687 and a maximum of $0.00002826.
In terms of technical indicators, the MACD line has fallen below the signal line, suggesting that the market may enter a bearish reversal phase. Meanwhile, the green histogram of the Awesome Oscillator (AO) is gradually weakening, further indicating that bullish momentum is fading. Overall, although SHIB's current price performance is stable, the technical picture shows that there may be a correction pressure in the short term, and investors should cautiously observe changes in market trends.
Shiba Inu (SHIB) is currently in a critical price resistance area, with market trends full of potential and uncertainty. If the current bullish momentum continues, SHIB is likely to break through the resistance level of $0.00003 in the short term. Once decisively breaking through this threshold, the price may quickly rebound to $0.000035 and further rise to $0.00004. Following this trend, SHIB is expected to achieve an increase of about 41% by the end of this week.
However, the other side of the market is potential bearish pressure. If bears regain control, SHIB may fall below the key support level of $0.000027. This situation would weaken the current bullish structure and could lead to further price drops to $0.000025 or lower, reversing the recent upward trend.
Currently, Shiba Inu is facing a crucial decision. If market conditions remain favorable and successfully break through $0.00003, the price of SHIB may continue to rise and could gradually approach its historical high. Conversely, failing to maintain key support levels will expose the price to correction risks, and investors need to closely monitor market dynamics.
